Back to the Office for Tech Workers

[Coronita]

[quote=deadzone][quote=Coronita][quote=deadzone]

Strawman my ass. The number of people fully working from home is going down. Period. Companies are bringing folks back to the office, in droves, that have been working fully from home for 2 years. That’s the whole point. What is this so hard to understand? If you claim fully remote workers were a significant factor in SD (or any other city’s) RE gains over the last 2 years, you can’t also claim that remote workers going back to the office won’t have a negative impact. You can’t have it both ways.[/quote]

Again, why does it matter for SD real estate, whether ?[/quote]

For the upteenth time, because it has been reported all over the media, and by folks at this site including you, that Bay area tech workers were moving down to San Diego in droves to buy houses during Covid and WFH. I’ve heard that same story in the media about many other cities besides San Diego, so not unique to San Diego. Whether that is actually a significant factor in Sd RE growth I don’t know. But if it is, that trend will reverse itself post Covid as the number of fully remote jobs goes down.[/quote]

Yes, and how will those people that already have commitments from the bay area companies to allow them to work remotely and have been doing this for some time, affect things? You really think all the sudden they are being called back into the office? Um no… Not even amazon…No one that I know that was given the option to work remotely for Amazon has that rescinded since Amazon’s soft back peddling… Perhaps you missed it. And yes, I know plenty of people that continue to work remotely at Amazon.

https://www.aboutamazon.com/news/workplace/amazon-offering-teams-more-flexibility-as-we-return-to-office

[quote]
For our corporate roles, instead of specifying that people work a baseline of three days a week in the office, we’re going to leave this decision up to individual teams. This decision will be made team by team at the Director level. We expect that there will be teams that continue working mostly remotely, others that will work some combination of remotely and in the office, and still others that will decide customers are best served having the team work mostly in the office. We’re intentionally not prescribing how many days or which days—this is for Directors to determine with their senior leaders and teams. The decisions should be guided by what will be most effective for our customers; and not surprisingly, we will all continue to be evaluated by how we deliver for customers, regardless of where the work is performed.
[/quote]

How many Amazon engineers do you personally know that relocated down here and that you know personally that has said they now move back?

[Anonymous]

[quote=Coronita][quote=deadzone][quote=Coronita]The way I would look at it DZ is this remote work option could open the doors for where you want to live and buy a house too.

One gets a lot of newer houses and bigger houses for instance in great parts Riverside County.

If I wasn’t so entrenched where I am with my kid and school, I would seriously consider a nicer home elswehere that would be closer to what I would want out of an ideal home.[/quote]

Of course remote work is a benefit to the employee. I never said I am against it, just pointing out that it is not going to be an option for the vast majority of employees going forward. Whether you or I have a preference to work from home has no influence on what is going to happen.[/quote]

So how is more people going back to the office in San Diego going to impact real estate in San Diego?

Hypothetically, how is going back to the office for a lower cost area like Alabama for someone that relocated from San Diego to Alabama to move to a lower cost area going to impact real estate in San Diego?[/quote]

That’s exactly why I never bought into the idea of WFH being a long term contributor to SD RE growth. Maybe short term during Covid there was a huge influx of Bay area workers moving to San Diego. But long term, I would expect as many, if not more, SD workers to move to other parts of the country if they could make SD or Bay Area salaries working anywhere. Or if a new college graduate from an East Coast University can get 120K Bay Area starting salary working fully remote, would San Diego be the logical choice that they would move to?

[Coronita]

[quote=deadzone][quote=Coronita][quote=deadzone][quote=Coronita]The way I would look at it DZ is this remote work option could open the doors for where you want to live and buy a house too.

One gets a lot of newer houses and bigger houses for instance in great parts Riverside County.

If I wasn’t so entrenched where I am with my kid and school, I would seriously consider a nicer home elswehere that would be closer to what I would want out of an ideal home.[/quote]

Of course remote work is a benefit to the employee. I never said I am against it, just pointing out that it is not going to be an option for the vast majority of employees going forward. Whether you or I have a preference to work from home has no influence on what is going to happen.[/quote]

So how is more people going back to the office in San Diego going to impact real estate in San Diego?

Hypothetically, how is going back to the office for a lower cost area like Alabama for someone that relocated from San Diego to Alabama to move to a lower cost area going to impact real estate in San Diego?[/quote]

That’s exactly why I never bought into the idea of WFH being a long term contributor to SD RE growth. Maybe short term during Covid there was a huge influx of Bay area workers moving to San Diego. But long term, I would expect as many, if not more, SD workers to move to other parts of the country if they could make SD or Bay Area salaries working anywhere. Or if a new college graduate from an East Coast University can get 120K Bay Area starting salary working fully remote, would San Diego be the logical choice that they would move to?[/quote]

Again, I think you’re arguing with yourself and arguing in circles.

No one said WFH is the only major contributor…. And no one is saying it’s going to be a continuing factor for more people moving here, especially given that SD real estate isn’t really a bargain anymore relative to other parts of CA.

But it certainly has been a contributor for some people that did relocate here. And they will be here for some time and they will occupy those houses they bought or rented.

No one said that it’s the only contributor, nor did anyone say it’s going to be a sustained contributor. But it certainly was a factor for some people who wanted to stay in California when San Diego real estate was more affordable than it is now. They are here, they bought, as well as folks that relocated here for a new job… Now that real estate in SD getting closer to expensive as LA/OC/SF, its’ probably no lesser of a viable “lower cost” option for more people that don’t have these higher paying, higher compensated jobs, whether they are working remotely or have a new job.

Now housing is considerably more expensive, some people are probably going to need to consider other options elsewhere.

I think you’re missing the point in that those people that did relocate here for whatever reasons and who bought a house aren’t going back anytime soon, and that reduces the housing supply, given that in SD new housing isn’t being built any faster.

[Coronita]

And look, these cold call emails have been arriving in my inbox weekly…. Even now… No mortgage/loan required.

[img_assist|nid=27545|title=fs|desc=|link=node|align=left|width=400|height=612]

Let that sink in.. $3.075m cash buyer… And we’re not talking about a mcmansion custom home.

[sdrealtor]

FWIW I said it will continue to be a factor and a significant one. Far from the only one but one more on top of the phenomenal growth and change occurring here otherwise. Why would people live here when other places are cheaper? For the same reason they have come here in the past and we stay here. This is an amazing place to live. We are firing on all cylinders and won’t be going back to where we were. The horse has left the barn and is enjoying the plush pasture known as OOAL

[an]

[quote=deadzone]
Strawman my ass. The number of people fully working from home is going down. Period. Companies are bringing folks back to the office, in droves, that have been working fully from home for 2 years. That’s the whole point. What is this so hard to understand? If you claim fully remote workers were a significant factor in SD (or any other city’s) RE gains over the last 2 years, you can’t also claim that remote workers going back to the office won’t have a negative impact. You can’t have it both ways.[/quote]
Of course number wfh went down. Everyone (except for essential workers) were either WFH or not working. So, yes, it is a strawman cuz no one is arguing with you about that. You’re arguing against yourself on that one. Which is the exact definition of strawman.

[sdrealtor]

And the bulk of those who have gone back were generally lower paid and not the ones that impact RE to a greater degree

[Coronita]

I wish I had $3million in cash to buy a house outright now. lol. Actually, I don’t really care.

[an]

I wish I have more time 🙂

[Anonymous]

Well this is all interesting fodder. But the real event that will prick the housing/everything bubble is Fed tightening. Fed a bit hawkish today, signaling 7 rate increases THIS YEAR.
MBS market is spiraling downward and Fed hasn’t even started easing their bond/MBS purchases. Again, very bad omen for current investors/flippers (aka future bag-holders)

[Anonymous]

[quote=sdrealtor]And the bulk of those who have gone back were generally lower paid and not the ones that impact RE to a greater degree[/quote]

Right, and you have some evidence to support this? Of course not, pulled right out of your sphincter.

[Anonymous]

[quote=an][quote=deadzone]
Strawman my ass. The number of people fully working from home is going down. Period. Companies are bringing folks back to the office, in droves, that have been working fully from home for 2 years. That’s the whole point. What is this so hard to understand? If you claim fully remote workers were a significant factor in SD (or any other city’s) RE gains over the last 2 years, you can’t also claim that remote workers going back to the office won’t have a negative impact. You can’t have it both ways.[/quote]
Of course number wfh went down. Everyone (except for essential workers) were either WFH or not working. So, yes, it is a strawman cuz no one is arguing with you about that. You’re arguing against yourself on that one. Which is the exact definition of strawman.[/quote]

No, actually people on this site have been arguing this. Many here don’t really understand mathematics. They think just because the WFH folks who moved here aren’t necessarily going back to Bay area, that this is good for the housing market. It doesn’t mean squat becauese they’ve already bought their houses. What matter is growth (positive or negative) going forward. The point is there will be less and less future opportunities to move from Bay Area to SanDiego (or whereever) to wfH going forward so there will be far less demand than there was during Covid.

[an]

[quote=deadzone][quote=an][quote=deadzone]
Strawman my ass. The number of people fully working from home is going down. Period. Companies are bringing folks back to the office, in droves, that have been working fully from home for 2 years. That’s the whole point. What is this so hard to understand? If you claim fully remote workers were a significant factor in SD (or any other city’s) RE gains over the last 2 years, you can’t also claim that remote workers going back to the office won’t have a negative impact. You can’t have it both ways.[/quote]
Of course number wfh went down. Everyone (except for essential workers) were either WFH or not working. So, yes, it is a strawman cuz no one is arguing with you about that. You’re arguing against yourself on that one. Which is the exact definition of strawman.[/quote]

No, actually people on this site have been arguing this. Many here don’t really understand mathematics. They think just because the WFH folks who moved here aren’t necessarily going back to Bay area, that this is good for the housing market. It doesn’t mean squat becauese they’ve already bought their houses. What matter is growth (positive or negative) going forward. The point is there will be less and less future opportunities to move from Bay Area to SanDiego (or whereever) to wfH going forward so there will be far less demand than there was during Covid.[/quote]
Can you quote someone who said we either will stay 100% remote as a whole (except for essential workers) or somehow, 100% remote as a whole (including essential workers)?

[The-Shoveler]

Covid lock-downs in China and the EU, makes me wonder if companies will delay again back to office.

So far no real big push at my company to get workers back in the office (yet LOL).

[sdrealtor]

[quote=deadzone][quote=sdrealtor]And the bulk of those who have gone back were generally lower paid and not the ones that impact RE to a greater degree[/quote]

Right, and you have some evidence to support this? Of course not, pulled right out of your sphincter.[/quote]

There are no statistics on this but all the well paid professionals I know are still working from home while the more mundane worker bees are back. So which one are you? Are you still WFH? Who from your company has already gone back? Managment or clerical?

[Author]

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